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COMMITMENTS AND CONTINGENCIES | 3 Months Ended
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Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract] |
COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES Aggregate future minimum rental payments required under all non-cancelable operating and finance leases at March 31, 2022 are as follows:
Year |
April 1, 2022 to December 31, 2022 | $ | 2,097 |
2023 | 2,212 |
2024 | 1,964 |
2025 | 1,132 |
2026 | 743 |
2027 | 549 |
Thereafter | 1,930 |
Total minimum lease payments | $ | 10,627 |
The Company’s Verona, Missouri facility, while held by a prior owner, was designated by the EPA as a Superfund site and placed on the National Priorities List in 1983 because of dioxin contamination on portions of the site. Remediation was conducted by the prior owner under the oversight of the EPA and the Missouri Department of Natural Resources. The Company is indemnified by the sellers under its May 2001 asset purchase agreement covering its acquisition of the Verona, Missouri facility for certain potential liabilities associated with the Superfund site. In February 2022, BCP Ingredients, Inc. ("BCP"), the Company subsidiary that operates the site, along with the former owner of the site received a Special Notice Letter from EPA for the performance of a focused remedial investigation/feasibility study at the site with regard to the presence of certain contaminants, focusing primarily on 1,4 dioxane. BCP has, with the assistance of experts, studied site conditions and hydrogeology and responded to the Special Notice Letter. BCP anticipates that the EPA will respond to its response in the coming months. From time to time, the Company is a party to various litigation, claims and assessments. Management believes that the ultimate outcome of such matters will not have a material effect on the Company’s consolidated financial position, results of operations, or liquidity.

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